If a credit union goes bankrupt,who or what insures that the account will get its money back up to $250,000?
A)FDIC
B)NCUA
C)NCUSIF
D)FSLIC

Question

Quizplus · Accepted Answer

The National Credit Union Administration (NCUA) insures credit union accounts up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF). The Federal Deposit Insurance Corporation (FDIC) insures bank accounts, not credit union accounts. The Federal Savings and Loan Insurance Corporation (FSLIC) no longer exists.

If a Credit Union Goes Bankrupt,who or What Insures That